Alfred, the largest residential technology company in the U.S., announced the strategic acquisition of RKW Residential, a fast-growing property management firm in the Southeastern U.S. and has concurrently raised a strategic financing round led by Rialto Capital with participation from NEA, 166 2nd Financial Services, Holland Management and others.

The funding which consists of a $50 million initial closing and access to up to an additional $75 million for future acquisitions, was also joined by Greystar Founder and CEO Bob Faith, Grubhub/Seamless Founder Jason Finger, and RKW Co-founder Jay Massirman.

Founded in 2014 by Marcela Sapone and Jessica Beck, Alfred is the largest and most advanced residential management platform. Since its inception, Alfred has focused on providing a resident-first experience. With an unparalleled knowledge of what residents want and technology that boosts income and efficiency for owners and operators, Alfred provides a single stop that elevates the rental ecosystem for all involved. Named by Fast Company as one of the Top 50 Most Innovative Companies, Alfred's AOS technology drives lower operating costs and higher returns for property owners and operators. Through strategic partnerships with international real-estate owners and operators such as Hines, Related, RXR, Greystar, Invesco, Brookfield and J.P. Morgan. With RKW, Alfred's portfolio now extends to more than 300,000 residents in 44 cities across the U.S. and Canada and has planned expansions in Europe, Israel and Asia.